Datametrex AI Limited is pleased to report record financial results. In the second quarter the Company achieved the highest net income and revenue in it’s history. The Company reported net earnings of $10,410,485 in the six months end June 30, 2021 on revenue of $29,494,191. The Company finished the second quarter with cash of $10,555,375 and marketable securities of $2,486,962. Datametrex has filed on SEDAR …
Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex“) is pleased to report record financial results. In the second quarter the Company achieved the highest net income and revenue in it’s history. The Company reported net earnings of $10,410,485 in the six months end June 30, 2021 on revenue of $29,494,191. The Company finished the second quarter with cash of $10,555,375 and marketable securities of $2,486,962. Datametrex has filed on SEDAR its financial statements (“FS”) and related management discussion and analysis (“MD&A”) for the six-month financial results ending June 30, 2021 (“Q2 2021”). All currency is in Canadian dollars unless otherwise stated.
Q2 2021 Financial Summary
Financial Highlights for six-month ended June 30, 2021 (Q2):
- Revenue of $29,494,191 for compared to revenue of $2,763,796.
- Net earnings of $10,410,485 compared to ($1,590,239).
- EBITDA of $12,250,211 compared to ($1,197,679).
- Cash balance significantly increased to $10,555,375 from $1,971,987 end of 2020.
The following is financial information for the three-month financial results ending June 30, 2021, along with comparative results. Please refer to the Q2 2021 Filing in its entirety, which is available under Datametrex‘s profile at www.sedar.com.
“We are very pleased with the achievements and the financial results we have delivered over the first half of 2021, and remain optimistic in our outlook as we move through the remainder of 2021. We also continue to expect greater profitability and notable cash flow driven by COVID-19 testing and the integration of Medi-Call, a multi-year strategic initiative undertaken as part of our post-pandemic world,” commented Marshall Gunter, CEO of Datametrex.
Financial Highlights for three-month ended June 30, 2021 (Q2):
|Q2 2021||Q2 2020||% Change|
|Income/Loss before income taxes||$1,034,941||($868,478)||219.2%|
|Income per share – basic||$0.003||($0.003)||200%|
* Note: EBITDA ( non- IFRS measures) is calculated as Net Loss adjusted for 1. Income taxes, 2. Depreciation and amortization, and 3. Interest and accretion.
Non-IFRS financial measures do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Specific items may only be relevant in certain periods. For a reconciliation of non-IFRS financial measures please refer to the Company’s Management Discussion and Analysis for the six months ended June 30, 2021.
|Q2 2021||Q2 2020||Dollar Change||Percent Change|
Q2 Highlights and Subsequent Events
- On August 4, 2021, Datametrex announced it had passed the second round of scrutiny in a Canadian AI bid. The value of the contract is approximately $40 million. The binding bid remains subject to meeting all criteria on technical merit and ability to deliver in accordance with the bid procedures and deadlines.
- In June, the Company completed the acquisition of Medi-Call Inc. (“Medi-Call”) by acquiring 100% of the issued and outstanding share capital of the company, an arm’s length privately held company, incorporated under the laws of the Province of British Columbia. As a result of the acquisition, Medi-Call is now a wholly-owned subsidiary of the Datametrex. Medi-Call is a telemedicine company that is a subscription service that connects patients with providers or doctors in real time. Datametrex is integrating its platform into the Company’s core AI technology.
- The Company announced, May 27, 2021, new sales revenue from Incheon International Airport Corporation and the Shinhan Financial Group, located in Seoul, South Korea.
- In April 2021, the Company’s common shares began trading on the OTCQB under the stock symbol “DTMXF”.
- The Company remains approximately a 10% shareholder of Graph Blockchain Inc. (GBLC: CSE).
Despite a significant market slowdown due to the pandemic, the Company continued to improve its balance sheet in Q2. The Company continues focusing its resources on expanding and improving its AI business in 2021, with the Company expecting to see significant growth in both its existing cybersecurity AI verticals and new health technology verticals that the Company is building on.
Unfortunately even with populations being vaccinated, and as the contagious Delta variant continues to circulate, there is clear and mounting evidence that people are coming down with breakthrough COVID-19 infections. Testing, contact tracing is a COVID-19 preventative action that will continue for years to come. Only 29.6% of the world population has received at least one dose of a COVID-19 vaccine, and a mere15.2% is fully vaccinated.
As Datametrex further integrates Concierge Medical Consultants Inc’s business, the Company sees a significant upside as the pandemic shows signs that patients are moving to healthcare being administered at home.
Given the surge in the need for additional healthcare resources, establishing alternative healthcare options becomes critical. Datametrex understands that non-acute healthcare can mitigate exposing patients and their families to COVID-19. The Company is exploring deploying a variety of audio and video technology powered by its battle-tested AI technology to expand telemedicine services.
“I am extremely proud of our whole team. We continue to experience growth as a result of our growing portfolio of companies. The future prospects of Datametrex continue to improve with our swelling customer base. We look forward to executing our business plan for the remainder of the fiscal year,” commented Andrew Ryu, Chairman of the Company.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex‘s mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, the Company provides progressive solutions to support the supply chain.
About Medi-Call Inc.
Medi-Call is an enhanced telemedicine company providing technology-driven e-health or m-health care services including prescriptions, launching initially in British Columbia, and then expanding across Canada. The objectives of Medi-Call, include making health care accessible to people who live in rural and isolated communities and make services more readily available or convenient for people with limited time, mobility, or transportation choices. Medi-Call is driven to improve coordination and communication of treatment among members of a health care team and its patients.
For additional information on Medi-Call and other corporate information, please visit the Company’s website at www.medicallmd.ca/.
For further information, please contact:
Marshall Gunter – CEO
Phone: (514) 295-2300
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
NON-IFRS FINANCIAL MEASUREMENTS
The Company has included non-IFRS performance measures throughout this press release, including (a) Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on change in fair value of the Company’s investment properties and the gain (loss) on change in fair value of derivative instruments; and (c) Book Value per Share which is calculated as equity attributable to Datametrex AI Limited shareholders divided by total common shares outstanding at the end of the reporting period. These non-IFRS financial measurements do not have any standardized meaning as prescribed by International Financial Reporting Standards (“IFRS”) and are therefore unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management uses EBITDA metrics to measure the profit trends of the business units and segments in the consolidated group since it eliminates the effects of financing decisions. Certain investors, analysts and others utilize these non-IFRS financial metrics in assessing the Company’s financial performance. These non-IFRS financial measurements have not been presented as an alternative to net income or any other financial measure of performance prescribed by IFRS. Reconciliation of non-IFRS measures has been provided throughout the Company’s MD&A, as applicable, filed under the Company’s profile on www.SEDAR.COM.
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